Sec. Yellen: ‘As Chair Powell Indicated Himself, Both of Us Probably Could Have Used a Better Term than Transitory’

Treasury secretary Janet Yellen ░░░░░░░░ Sen John Thune yesterday ░░░░░░░░ As Chair Powell indicated ░░░░░░░░ both of us probably ░░░░░░░░ have used a better ░░░░░░░░ than transitory There s ░░░░░░░░ question that we have ░░░░░░░░ inflation pressures that inflation ░░░░░░░░ really our top economic ░░░░░░░░ at this point and ░░░░░░░░ it s critical that ░░░░░░░░ address it So I ░░░░░░░░ expect I do expect ░░░░░░░░ to remain high although ░░░░░░░░ very much hope that ░░░░░░░░ will be coming down ░░░░░░░░ THUBE And and and ░░░░░░░░ President s budget to ░░░░░░░░ that point projects inflation ░░░░░░░░ 4 7 percent for ░░░░░░░░ which seems to be ░░░░░░░░ entirely unrealistic assumption given ░░░░░░░░ inflation the first half ░░░░░░░░ year has been well ░░░░░░░░ that rate Has the ░░░░░░░░ s 4 7 percent ░░░░░░░░ assumption proved accurate for ░░░░░░░░ or should that number ░░░░░░░░ revised higher Yellen Well ░░░░░░░░ re in the process ░░░░░░░░ producing a new forecast ░░░░░░░░ the mid session review ░░░░░░░░ numbers aren t locked ░░░░░░░░ in but it s ░░░░░░░░ to be higher THUNE ░░░░░░░░ hopefully we won t ░░░░░░░░ to wait long for ░░░░░░░░ right I mean when ░░░░░░░░ that review come out ░░░░░░░░ I m not sure ░░░░░░░░ the date is.”